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2019 (12) TMI 194 - HC - Companies LawWinding up proceedings - conduct of Official Liquidator (OL) - rejection of application for impleadment and transfer moved by the appellant secured creditor herein - HELD THAT:- The OL really should have no interest in seeking to retain its control over the company under liquidation since, supposedly, it has no pecuniary interest in the matter. - OL is not willing to let go of its control over the company under liquidation. The working of the office of the OL has, in the past, left us with a sense of disappointment. In fact, if the office of the OL were to discharge its obligations and duties efficiently and completely transparently, may be, the need to evolve the NCLT with jurisdiction, inter alia, to liquidate a company may not have arisen. There are no merit in this submission for the reason, that the personal properties of the guarantors do not constitute the property of the company under liquidation. With those properties, the OL, in any event, would have no concern. In relation to the properties of the company under liquidation, possession whereof has been taken by the O.L., no irreversible steps have yet been undertaken. The impugned order passed by the learned Company Judge proceeded on the basis that the appointment of the IPR had been stayed by the NCLAT on 30.04.2019. The NCLAT stayed the appointment of the IRP on the ground that the Liquidator had already been appointed in the Company Petition. The learned Company Judge rejected the application for impleadment and transfer moved by the appellant secured creditor herein - appeal allowed - decided in favor of appellant.
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